" To deliver quality products and services though economically sustainable businesses"
My Idea of Entrepreneurship
The world is a far better place because some people took the responsibility to deliver great products and services.Can you imagine a world without mobile phones? Most things that constitute modern day living, comfort and safety were provided by entrepreneurs.
I share this spirit of exploration. This led to me to one of the most gratifying experiences in my life - Buybazaar ( my start up )
My Start Up Story - Buybazaar
Buybazaar was a brick & click model retail store that felicitated purchase of essentials, such as perishables and FMCG goods, through the internet and physical outlets
2011
2012
2013
2014
2016
The Beginnings
Proof of Concept Established
Economics vs Business Model
Brick & Click Model
Buybazaar
Closure
•The Idea
•Market Research
•Competitor Analysis
•Feasibility Study
•Website Development
•Initial Operating Model
•Dynamic FMCG Market
•Perfect Delivery Objective
•Make Shift Procurement Model
•BB’s own product portfolio
•Operational Loss
•Scaling conundrum
•Increase in number of orders
•Orders from across the city
•Margins insufficient to compensate effort
•Delay in commitments
•Operationally breaking Even
•Losses due to low volume
•Customer resistance to absorb new format
•Repeat order percentage was 16.32%
•Unable to negate shop visits for even the most loyal customers
•Logistics and economy of scale
•Brick & Mortar was a established format
•Business was loss making for more than 8 quarters
•Velachery & Porur Operations unsuccessful
•The Dominos Effect
Although my venture was a failure, it induced a steep learning curve in retail, digital marketing, and sales, and has helped me understand business, finance & technology in-depth, with a macro and micro perspective.
I am currently working in ThoughtWorks as a Business Analyst, a company that resonates with my core values.
I hope to start an enterprise that helps retailers & manufacturers minimize wastage, optimize operations, and maximize profit by maintaining lean inventory, generating accurate demand forecasts and identifying optimal logistical operations through the use of technology and data.